Zynga Reveals More IPO Details
Zynga, the San Francisco, California-based startup that develops social-based games for websites like Facebook and mobile devices, issued a number of details Thursday about its upcoming, highly-anticipated IPO. The company will sell shares under the ticker symbol “ZNGA” on the Nasdaq, it said in an amended filing for the initial public offering, while reiterating that it hopes to raise over $1 billion in the offering.
Reportedly, Zynga executives wanted the symbol “Z”, but it is already in use by real estate data provider Zillow. Zynga also revealed some other interesting information in the filing, including a breakdown of which games were responsible for its $271 million increase in revenue between the first half of 2010 and the first half of 2011. Farmville was responsible for the biggest chunk of the increase, at $76.5 million, followed by FrontierVille at just over $70 million.
The company also indirectly revealed how much it paid to acquire DNA Games in May, by saying that it issued $44 million in new shares on the 18th of that month, the same day the acquisition was announced. The filing also indicated that Zynga’s corporate headquarters has been expanded from 345,000 square feet to 405,000. While Zynga has not yet announced a projected date for its IPO, Thursday’s filing indicates that it is getting closer.